How do i earn interest on my bank account ?

i have a bank account but its not gettin any interest i need to do some investments tht will earn me some interest how do i do that?

If you are not getting enough interest, there are two possibilities:
you have the wrong type of account, or you don't have enough money in your account to generate a significant interest.

There is usually a minimal amount you need to start or maintain your account, so it is just likely that your savings and account type is not enough.

Here are some investments you can make to start the money rolling.

Bonds: It means you are 'lending' your money to a company, definitely a higher rate of interest than with a bank account, but you have to wait longer to get your money back, sometimes even up to 10 years!. This is a long-term investment, if you cant commit such a long time, don't buy bonds.

Stocks: The market is volatile. So unless you want to take the risk, and you have enough money to make risks.

Mutual Funds: A financial manager will help you invest in various areas, never put all your eggs in one nest (something like that). This is good since the manager is a pro, it is less risky too.

For now, if you are not sure, just go to the financial advisor in your bank (they're usually very bored) and ask. If you have enough money, they will advice you to switch account type for a more lucrative rate of interest. (and of course you should go to a bank that offers the best rate on the market)

You obviously need to close your bank account and open a new one at HSBC that gives you 4.80%

I also know a company that is currently offering 9.60%

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i have a wachovia bank account i have a savings, and every month depends on the amount you have in there and how much % they are paying you. now with your checking, i think thats the same way just i use it alot so every month it goes up and down like a roller coaster, and my savings stays the same. so depends on your bank which and who you have, call the bank and they can tell you everything you need to know.

I opened an ingdirect.com savings account. Works great. Every two weeks (on payday) I have a set amount transferred to that account. It builds over time and they pay better interest than my local bank does on savings.

Shop around and take the best interest rate you can find.

Also, it might be advisable to speak with the financial consultant at your back. I just opened a high interest account linked to a money market account and the people who were advising me were happy to do so.

Most all banks, offer this as a free service. It can be very informative and helpful.

Speaking with them will help maximize the return on your investments!

Move your money to emigrantdirect.com
They are currently paying 4.80 APY.
The interest is almost as high as a CD and its very liquid. You can easily transfer money between your traditional checking or saving account to the emigrantdirect account.

Few banks anymore pay decent interest rates. Especially if you live in a small town, you'll get very little on a savings account (the bank is betting you won't take the money to another town and a bigger bank that will pay better interest). One way to "use" a bank to make money is to simply use it as a parking place for your money until you can pick some stocks or put it into Treasury Direct (for savings bonds, I-bonds). (In other words, just regard banks as a place to deposit your pay check and hold your money until you write your broker a check when investing it.) Set up a brokerage account and buy safe stocks (not risky "penny stocks" or stocks that a friend of a friend says is real hot right now, etc.) in firms that are mainstream, old, established companies that pay respectable dividends and have a pretty respectable growth rate in value (you definitely don't want one that pays dividends but stays stuck at the same price year after year). Then have the brokerage company hold your dividends in a cash account within your brokerage account until such time that you decide to buy more stock (again, a dividend-yielding stock).
Set up a Treasury Direct account and invest in it regularly. See the link below and read about I-bonds.

In Pakistan banks are paying as high as 10 to 11 % per annum...

you need to convert your bank account which i believe is a current account right now into a savings account or a PLS account. savings account helps in the sense that you ll earn interest on everyday balance... PLS is the same thing... do go for FIXED deposit if you have like alot of money lying idle and you dont use it.

or get into mutual funds if you have the savings... they will give you a higher rate of return

To earn interest, you generally need to stay in credit...... in other words have plenty of money in it.

If you feel you're getting a cr*p deal from your bank, visit the Motley Fool and compare different accounts:

UK Version (Current Accounts):
http://www.fool.co.uk/current-accounts/c...

UK Version (Savings Accounts)
http://www.fool.co.uk/savings/compare-sa...

Banking Section (US Version):
http://www.fool.com/money/banking/bankin...

Banking tools (US version of the Fool)
http://www.fool.com/money/banking/tools/...

Ideally, you should have a "Current Account" (UK name for it) / "Checking Account" (US name for it) with the bare minimum of money in for paying bills & making purchases without getting screwed with a rip-off charge for going overdrawn (this is where an OVERDRAFT facility comes in handy).
While the bulk of your money sits in a SAVINGS account which earns more interest in it (usually paid annually).

A typical UK current account when in credit generally pays out 0.1% interest (which is bugger-all, really).... while a savings account such as the "WEBSAVER" from the Halifax pays it out at a rate of about 4.00% AER (last time I checked my account.